Currently reading: Volkswagen extends boss Winterkorn's contract until 2018
Volkswagen's supervisory board extends boss Martin Winterkorn's contract to the end of 2018

Martin Winterkorn will remain the boss of Volkswagen until at least the end of 2018, following a resolution taken by the firm's supervisory board today.

In a statement, chairman of VW's supervisory board Berthold Huber said: "Together with Professor Martin Winterkorn at the helm we will continue on our successful path of recent years and systematically implement the goals of Strategy 2018."

There had previously been speculation about whether Winterkorn would remain at the helm of the Volkswagen Group, after he was directly criticised by former board boss Ferdinand Piëch, who resigned in April.

Piëch – a member of the Porsche family – was seen as the VW Group’s main player since he became chairman of the board of VW management in 1993.

In a statement issued at the time of Piëch's resignation, Volkswagen said: "The members of the steering committee came to a consensus that, in the light of the past weeks, the mutual trust necessary for successful cooperation was no longer there.

"Against this background, Professor Doctor Ferdinand K. Piech resigned from his office as chairman as well as all his supervisory board mandates within the Volkswagen group with immediate effect."

Earlier this summer, Volkswagen toppled Toyota to become the world's largest car maker by car sales. The VW group sold 5.04 million cars worldwide in the first six months of this year, compared to 5.02 million units from Toyota.

The resolution to extend Winterkorn's contract will be officially submitted as part of the VW Group's next meeting at the end of this month.

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Norma Smellons 3 September 2015

wily old dog

Brakedust wrote:

He is undoubtedly the most talented auto industry manager of his generation

He's certainly up there, isn't he? But at the top would have to be Eberhard von Kuenheim. For turning BMW from a post-War wreck into what it is today, and in the process furnishing a template which Audi (i.e. Piech) and others have clearly followed. And this against a Mercedes at the top of its game. Piech's real achievement has been in juggling all the VAG brands and the shared platforms; no mean feat in itself. And you're right - we probably haven't heard the last from the wily old dog yet.

brakedust 2 September 2015

Piech - Don't underestimate him

Piech may have lost the battle but he may yet win the war. He is immensely powerful, immensely clever and he controls a huge number of shares in the Group. He is undoubtedly the most talented auto industry manager of his generation - the man who made Audi what it is today, the driving force behind VW's 1980s resurgence, the architect behind VW's takeover of Porsche, and it was his masterplan that saw the purchase of Bentley, Lamborghini, SEAT, Skoda and Ducati. As things stand today, VW has become less profitable, Audi's have become boring and similar, and the entire Group has been slow to develop non-petrol / diesel engine technologies. In other words, the Group was ripe for a shake-up. Big mistake to back Winterkorn over Piech. This story certainly isn't over and I look forward to reading the next chapter.
fadyady 18 April 2015

Boardroom games

Now that the investors have spoken and the boardroom games have been lost and won, let's see if this rather brief tussle will have any effect on the VW Group's direction.